Desktop Metal (NYSE:DM) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Desktop Metal, Inc. (NYSE:DM) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.26 and traded as low as $2.18. Desktop Metal shares last traded at $2.20, with a volume of 545,380 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Desktop Metal from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th.

Desktop Metal Trading Down 9.7 %

The business has a 50 day moving average of $3.41 and a 200-day moving average of $4.24. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.02 and a current ratio of 2.34.

Institutional Trading of Desktop Metal

Several hedge funds have recently modified their holdings of the business. Point72 DIFC Ltd purchased a new stake in shares of Desktop Metal in the second quarter valued at $68,000. Cubist Systematic Strategies LLC acquired a new position in shares of Desktop Metal in the second quarter worth about $150,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Desktop Metal in the second quarter worth about $208,000. XTX Topco Ltd acquired a new position in shares of Desktop Metal in the third quarter worth about $214,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Desktop Metal in the second quarter valued at about $229,000. 56.31% of the stock is owned by institutional investors and hedge funds.

Desktop Metal Company Profile

Desktop Metal, Inc manufactures and sells additive manufacturing technologies for engineers, designers, and manufacturers in the Americas, Europe, the Middle East, Africa, and the Asia- Pacific. The company offers Shop System, an entry-level metal 3D printing using binder jetting; X-series platform that provides binder jet 3D printing of specialty materials, including metals and ceramics, and tools; and P-Series offers high-speed metal 3D printing.